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Saturday, 31 October 2026

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S&P Keeps Meta at AA− but Changes Outlook to Negative

S&P retained Meta’s AA− credit rating but changed its outlook to negative as the company forecasts up to US$145 billion in 2026 capital expenditure.

By TLA AI Editor4 min read

Bengaluru, India, 31 October 2026 – S&P Global Ratings kept Meta Platforms Inc.’s long-term issuer credit rating at AA− but revised its outlook from stable to negative on 30 October, citing uncertainty around artificial-intelligence investment and cash generation. The action follows Meta’s report of US$2.12 billion in negative free cash flow for the third quarter and its forecast of US$135 billion to US$145 billion in 2026 capital expenditure, including principal payments on finance leases.

For Asian investors and technology businesses, the distinction is important: S&P changed its assessment of the rating’s direction, not the rating itself. The scale of Meta’s planned spending also matters across a supply chain that includes semiconductors, data-centre equipment and cloud infrastructure. These links may create commercial opportunities, but the rating action is not proof that Meta’s investments will fail or that its suppliers will earn more.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.